Who is atlanta building for?
Neighborhoods are changing rapidly with new development for apartments, houses, and retail spaces. Housing is getting expensive in Atlanta, whether you are a renter or an owner. Increases in rent, taxes, and overall property value means many Atlantans can’t afford to be part of our future city.
FAST FACTS FROM THE EXPERTS
- In Atlanta People with an income bracket of 20,000-25,000$ a year are stressed because 80% of them pay over 30% of their income for rent and 26% of them pay over 50% of their income for rent.
Each year we lose an average of 1000 naturally occurring affordable housing units. Some of these become blighted and then abandoned, but others are remodeled and re-rented to higher paying tenants.
There was a proposal for a new affordable housing bond for $40 million - this would only help us get around 800 units.
While the rent is increasing by an average of %7-8 and sometimes even %11, the average income of people in Atlanta only increases by an average of %5. There are no neighborhoods in the city where the rents are going down or continue to remain flat.
Housing costs, transportation costs, wages and access to jobs are interconnected.
The current minimum wage in Atlanta is $7.25, while Georgia’s minimum wage is $5.15. A family with 2 children in metro Atlanta needs to make $26.55 an hour to afford housing here.
While differentiating between MIH (Mandatory Inclusionary Housing) and MIZ (Mandatory Inclusionary Zoning), the city has passed an ordinance that requires developers with any kind of housing/government subsidy that they have to set aside a certain percentage of units as affordable – but this ordinance does not necessarily address the conventional financing of housing policy.
WHAT SHOULD CANDIDATES KNOW?
Atlanta has a large philanthropic community but it has not traditionally focused on housing. They need to be at the table to make living in Atlanta more affordable.
Candidates need to understand that Atlanta's top industry is development. We need a new conversation around developing the community, not just the buildings.
The mayor of Atlanta should develop coalitions with mayors of other cities in the region to develop solutions for addressing affordable housing issues- any policy to develop successful housing in the city needs more people involved, including the state.
Budget is a moral document that speaks about how we feel about each other and how we feel about the city . We give a lot of money from tax breaks and fortune 500 companies that give high paying jobs bring people that want to live in the city and we are also contributing equal amount of money to perpetuate displacement and gentrification.
WANT TO TAKE ACTION?
Use these fast, tweetable facts and downloadable graphics to ensure your friends, family, and even candidates know affordability matters for your future Atlanta.
OUR FUTURE ATLANTA IS Affordable
FACT: Affordable housing means a household shouldn’t spend more than 30% of their income on housing costs (rent/mortgage+upkeep).
FACT: Half of Atlanta area households pay more than 30% of their income on housing costs.
FACT: More than a quarter of Atlanta area households pay 50% of their income on housing costs.